01:44 PM EST, 12/11/2024 (MT Newswires) -- Consumer stocks were mixed in Wednesday afternoon trading with the Consumer Staples Select Sector SPDR Fund (XLP) fractionally lower and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1.6%.

In corporate news, Albertsons ( ACI ) terminated its merger agreement with Kroger ( KR ) after two courts ruled to block the deal, while the grocery chain sued Kroger ( KR ) for allegedly failing in an effort to secure regulatory approval. Albertsons ( ACI ) shares shed 0.7% and Kroger ( KR ) rose 0.9%.

Macy's (M) lowered its full-year earnings outlook on Wednesday as the department store operator completed its investigation into an accounting issue that delayed the release of its complete fiscal Q3 results. Its shares fell 2.8%.

Hershey Trust, which holds about 80% of the voting power at Hershey (HSY), rejected a preliminary takeover offer from Mondelez ( MDLZ ) because the bid was too low, Bloomberg reported. Hershey shares dropped 3.3% and Mondelez ( MDLZ ) was rising 2.4%.